Roofing and other applications, such as, basement sealing and waterproofing frequently use water-resistant coatings and sealers to fill cracks, gaps or seams between sheets of water resistant membranes, such as roll roofing or shingles and to adhere one sheet or portion of the membrane or roofing material to another portion. Typically, roofing and weatherproofing materials are applied in multiple sheets or pieces, in that buildings are of a large scale, such that it is sometimes not practical to try to cover a surface, such as a roof or basement wall with a single, uninterrupted sheet of building material. As a result, it is desirable to have a filler/sealer/adhesive (hereinafter referred to as “adhesive”) that can be used to join one piece of material to another to assemble a water-proof assembly of pieces and to seal gaps and joints. Preferably, the adhesive material glues the pieces together with sufficient strength to maintain integrity under the stresses of the given application and is sufficiently flexible to allow the pieces of weatherproofing material to expand and contract in response to changes in temperature without breaking the bonds established by the adhesive. For reasons of economy, it is desirable for the adhesive to be made from materials that are reasonable in cost, given the large amount of adhesive that may be required for large expanses of roofing or other sealing applications. It is also desirable to avoid compounds in the adhesive that are a risk to health or to the environment, e.g., volatile organic compounds (VOCS). Due to water resistance, accessibility, safety and other attributes, asphaltic materials have traditionally found extensive use in water-proofing, e.g., for use in roofing systems. There is continuing interest, therefore, in new asphaltic products, such as adhesives, that have desirable properties with respect to their ease of application, compatibility with existing roofing products, low VOC content and water-resistance.